Put a deal down on a condo in cayman brac

[scubadada]

We owned a time share on Grand Cayman from 1996-2004. We opened a banking account, with much difficulty in 1997 or 1998. We closed the account a few years ago as they were charging us fees every year without any activity. In addition, we needed to disclose the minimal account every year on our US tax returns. Good riddance. Grand Cayman was not a good investment for us...

 

[mi000ke]

We owned a time share on Grand Cayman from 1996-2004. We opened a banking account, with much difficulty in 1997 or 1998. We closed the account a few years ago as they were charging us fees every year without any activity. In addition, we needed to disclose the minimal account every year on our US tax returns. Good riddance. Grand Cayman was not a good investment for us...

Sorry it didn't work out. I guess we've had the opposite experience. We found it nearly impossible to open a local bank account (so we didn't) but the investment has worked out pretty well so far.

 

[scubadada]

Sorry it didn't work out. I guess we've had the opposite experience. We found it nearly impossible to open a local bank account (so we didn't) but the investment has worked out pretty well so far.

No problem, I learned from my error. I own a wonderful house in Florida.

 

[mi000ke]

No problem, I learned from my error. I own a wonderful house in Florida.

Boynton beach is a pretty nice location, so you did well. My parents lived in Delray Beach. Always looked forward to getting down there for some sun and diving. Did my cert a few years ago with my sister and brother in law who live in Palatka, and we still enjoy diving the east coast and the springs. Looks like you made out pretty well

 

[scubadada]

Hi @mi000ke

I still love the Cayman Islands, despite my timeshare experience that ended with Ivan. I went to Brac for the 1st time last year, it was wonderful. My 2 trips to Little Cayman were great and I really love the east end of Grand Cayman. Going on a real budget trip on the Aggressor next month for their 35th anniversary.

I go down to SE Florida nearly every month. Nonstop to PBI from Philadelphia is very inexpensive and is just 10 miles from my house. I required medical care in 2013, after being struck by a boat in Delray. I'm glad this was in the US, worked flawlessly.

Good diving, Craig

 

[EastEndDiver]

It took us 3-4 months to get the account opened this was about 12 years ago we had to jump through all sorts of hoops but finally got it ….and YES they charge for every activity and no activity on the account.

We are registered with the U.S. DOJ as holders of a foreign account but it actually works to our advantage as a business write off

I hear it is now harder to get an account than ever before same for a drivers license now you have to take a road test.

 

[caydiver]

Most of the problem with opening bank accounts is ensuring that the account holders are legit and not hiding money from the tax man. It is ironic that they are so diligent about it but the stigma stays. I think it behooves some policitians to bring up offshore money laundering etc when the biggest culprits are much closer to home. It is shocking how few people don’t realize that if you are American you still have to appease Uncle Sam. I am not complaining about the requirements just frustrated with how many think we just don’t pay. However it serves the purposes of some to point fingers and of course the press loves a story that gets a lot of feedback!!!

 

[mi000ke]

I hear it is now harder to get an account than ever before same for a drivers license now you have to take a road test.

Got our licenses last year. Didn't require a road test, but did take 8 hours of waiting in a series of about 5 different lines to process the app, take the written (computerized) exam, pay for the license, get a photo taken, and get the actual license. Arrived at 9 am and had our licenses in hand by 4:45 pm - 15 minutes before closing time. Reminded me of our DMV at home.

 

[EastEndDiver]

Geez that's a lot longer than it took us way back when now add a road test to the time .

I read that about 50% fail the road test not sure if they were referring to locals or all.

 

[caydiver]

We got our licenses years ago and didn't have to take a road test (most expensive driving licenses ever and we have a few. I think many people used to roundabouts are fine with it, but for many who are not it is not so successful at first. Also we have so many people from all over the world where some of the driving is "interesting" I guess the situation is magnified. I am a happy driver and have no problem in many places, however there are some places I would not be so happy -- Bangkok jumps to mind! It seems to be a point and shoot (or look straight ahead and keep your foot on the pedal) mentality!!